Menu

  • Alerts
  • Incidents
  • News
  • Cyber Briefing
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Tutorials

Useful Tools

  • Password Generator
No Result
View All Result
Tuesday, December 5, 2023
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
    • Cyber Briefing
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
Get Help
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
    • Cyber Briefing
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
Get Help
No Result
View All Result
CyberMaterial
No Result
View All Result
Home News

India Targets Tech Support and Crypto Scams

October 20, 2023
Reading Time: 2 mins read
in News

In a major crackdown on cybercrime, India’s Central Bureau of Investigation (CBI) conducted a nationwide operation against tech support scams and cryptocurrency fraud. This effort, named Operation Chakra-II, aimed to dismantle financial crime rings and involved collaboration with international law enforcement agencies as well as tech giants like Microsoft and Amazon.

During the raids conducted across several Indian states, the CBI seized mobile phones, laptops, and hard disks, froze bank accounts, and gathered vital information related to these alleged scam operations. Notably, the operation uncovered tech support scams impersonating renowned multinational companies, such as Microsoft and Amazon, which had targeted over 2,000 customers worldwide.

The tech support scam rings used various international payment gateways and channels to illicitly acquire funds from foreign victims, mainly from the United States, the United Kingdom, and Germany. They employed deceptive tactics, including pop-up messages that falsely claimed technical issues on the victim’s computer. Victims were directed to call toll-free numbers, connecting them to the scammers’ e-call centers. These centers would then gain remote access to victims’ computers, convincing them of non-existing problems and pressuring them to pay for unnecessary services.

Such tech support scams have caused significant financial losses, with the FBI’s 2022 Internet Crime Report noting losses exceeding $800 million for over 32,000 victims in the United States in the past year alone.

In addition to targeting tech support scams, the CBI also uncovered a cryptocurrency fraud ring connected to a bogus crypto-mining operation. This fraudulent scheme resulted in substantial losses of at least Rs. 100 crore (approximately $12 million) for Indian investors. The scammers created a fake cryptocurrency token, enticing investors with promises of substantial profits from Bitcoin and other cryptocurrencies. They developed a website to mislead investors into thinking their funds would be used to acquire mining machines, with profits to be distributed among investors.

While investors initially received returns to build trust, the operation ceased in August 2021 after collecting payments from unsuspecting Indian citizens who had invested through various payment gateways. These actions are part of a broader effort to combat cybercrime and dismantle criminal networks involved in tech support and cryptocurrency fraud.

References:
  • Microsoft, Amazon, and international law enforcement join forces to fight tech support fraud
Tags: CBICryptocurrencycryptocurrency scamsCyber NewsCyber News 2023CybersecurityIndiaOctober 2023Operation Chakra-IIScams
ADVERTISEMENT

Related Posts

December 04, 2023 – Cyber Briefing

December 04, 2023 – Cyber Briefing

December 4, 2023
TrickBot Developer Convicted

TrickBot Developer Convicted

December 4, 2023
Google reduces ad personalization in AdSense

Google reduces ad personalization in AdSense

December 4, 2023
BlueVoyant Expands Cyber Capabilities

BlueVoyant Expands Cyber Capabilities

December 4, 2023
Chrome’s cache update may enhance speed

Chrome’s cache update may enhance speed

December 4, 2023
UK AI Data Bill Advances Despite Concerns

UK AI Data Bill Advances Despite Concerns

December 4, 2023

Latest Alerts

Turtle macOS ransomware alert

Attack extracts ChatGPT training data

CISA warns on Iranian cyber threat

Mac Users Targeted by Proxy Trojan Threat

New Backdoor Agent Racoon

Zyxel Alerts Critical Flaws in NAS

Subscribe to our newsletter

    Latest Incidents

    Surgery Center Alerts 437K on Data Theft

    Tipalti Hackers Threaten Data Leak

    Hacker Targets Safe Wallet, Stealing $2M

    Hackers breach Israeli hospital

    Credit Union Ransomware Outage Concerns

    Honey Birdette Faces Data Breach

    Next Post

    Lloyd's Warns of $3.5 Trillion Cyber Threat

    • About Us
    • Contact Us
    • Legal and Privacy Policy
    • Site Map

    © 2023 | CyberMaterial | All rights reserved

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Briefing
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials

    Copyright © 2023 CyberMaterial

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist